Wells Fargo first-quarter earnings and revenue beat Wall Street expectations, despite a decline in net interest income.
"Our solid first quarter results demonstrate the progress we continue to make to improve and diversify our financial performance," Wells CEO Charlie Scharf said in a statement.Here's how the company performed compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv:Revenue: $20.86 billion vs. $20.20 billion expected
Wells said its net interest income decreased 8% in the quarter, due to the impact of higher interest rates on funding costs and a shift by customers to higher yielding deposit products.
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